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NYC Administrative Code

§ 26-602 — Real property tax exemption; PILOT exemption.

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What is NYC AC § 26-602?

Quick Answer

This section provides a real property tax exemption for housing companies and applicable Battery Park City properties, corresponding to the rent increase exemptions credited to eligible heads of households. This exemption is supplementary to any other tax exemptions or abatements authorized by law. Applies to housing companies and property owners in Battery Park City.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 26-602 Real property tax exemption; PILOT exemption.

AC § 26-602

Real property of a housing company shall be exempt from real property taxes and real property of an applicable battery park city property shall be exempt from PILOT, in an amount equal to the rent increase exemptions actually credited to eligible heads of households pursuant to this chapter. Any such exemption shall be in addition to any other exemption or abatement of taxes authorized by law. (Am. L.L. 2023/109, 7/23/2023, retro. eff. 12/15/2022) Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2023/109.

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